Binance Secures Regulatory Approval in France

Binance's registration allows it to custody digital assets and operate a trading platform in the country.

AccessTimeIconMay 4, 2022 at 4:35 p.m. UTC
Updated May 11, 2023 at 5:43 p.m. UTC

Cryptocurrency exchange Binance has secured regulatory approval in France, according to a release from France's capital market regulator, the AMF (Autorité des marchés financiers).

  • Binance is now a registered Digital Asset Service Provider (DASP) in France and will be permitted to custody digital assets; facilitate the purchase, sale and exchange of such assets; and operate a trading platform for them. It is Binance's first such license in Europe, according to a company blog post.
  • The company is expanding its global operations, having obtained provisional approval to operate as a broker-dealer in virtual assets in Abu Dhabi last month.
  • Binance has never previously had a single headquarters owing to its decentralized ethos, something that does not sit well with regulatory bodies, who regard it as lacking accountability. This came to a head last year when a string of regulatory bodies across the world issued warnings that Binance was not authorized to operate in their markets.
  • In March and April, the company obtained approval to operate in Bahrain, Abu Dhabi and Dubai.
  • "When we first started, we wanted to embrace the decentralized philosophy of no offices, no headquarters, no corporate entities,” Binance founder Changpeng Zhao said at the Financial Times’s Crypto and Digital Assets Summit in April. "As soon as you want to get licenses, you have to have the traditional structures, which we do now," he added.
  • Binance has invested 100 million euros (US$108 million) in its operations in France, including a partnership with a Paris-based startup incubator Station F. It also has offices in the U.K., where the Financial Conduct Authority said it wasn’t able to regulate the company.
  • SEC's Crypto Enforcement Actions in 2023
    SEC's Crypto Enforcement Actions in 2023
  • How Much Money Are Terrorists Actually Raising in Crypto?
    How Much Money Are Terrorists Actually Raising in Crypto?
  • Cost of Not Enacting Crypto Regulation Is 'Extremely High,' Legal Expert Says
    Cost of Not Enacting Crypto Regulation Is 'Extremely High,' Legal Expert Says
  • Ripple Exec Says Singapore Is a 'Significant Hub for Our Business'
    Ripple Exec Says Singapore Is a 'Significant Hub for Our Business'
  • UPDATE (May 4, 16:59 UTC): Adds background information.


    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Oliver Knight

    Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.